Users deposit stablecoins (USDC, DAI) to earn interest and receive transferable fTokens (fUSDC, fDAI) representing claims on principal plus accrued interest.

Flux Finance is a decentralized lending protocol that enables users to lend and borrow stablecoins against tokenized US Treasuries (OUSG). Built as a fork of Compound v2, the protocol is governed by the Ondo DAO and has been audited by Trail of Bits, OpenZeppelin, Certora, and Code4rena.

Investors seeking yield on stablecoins, institutional users, DAO treasuries, and hardware wallet holders.

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Lending

Flux Finance

# Flux Finance Total value locked Methodology

## 1. Overview

Total value locked (TVL) is calculated as the sum of idle assets and active loans within Flux Finance. This metric is used as a key indicator of the protocol's capacity to support lending and borrowing activity. By aggregating both the assets remaining in the lending pools and the assets currently borrowed by users, a comprehensive view of the protocol's capital efficiency and utilization is provided.

## 2. Data sources

- **Blockchain events**: `AccrueInterest` events from `FToken` contracts and ERC-20 transfer-derived daily net flows, covering Ethereum
- **External data**: End-of-day price feeds and asset metadata

## 3. Step-by-step calculation

### Component A: Idle asset tracking

- **Purpose**: To calculate the idle underlying assets held within each lending market.
- **Logic**: Daily net underlying flows are extracted for allowlisted lending market contracts, which include fDAI, fFRAX, fOUSG, fUSDC, and fUSDT. A running total of these daily net flows is calculated to determine the idle balance of the underlying asset held by each market contract.
- **Key fields**: `account_address`, `token_address`, `amount`, `timestamp`

### Component B: Active loans tracking

- **Purpose**: To calculate the total value of active loans across all markets.
- **Logic**: `AccrueInterest` events are parsed from `FToken` contracts to extract the total borrowed amount. The last snapshot of each day is retained to represent the daily active loans. Amounts are normalized by the decimal precision of the underlying asset.
- **Key fields**: `totalBorrows`, `lending_market_address`, `block_timestamp`

### Component C: TVL aggregation and USD conversion

- **Purpose**: To combine idle and borrowed assets and convert the total to USD.
- **Logic**: Idle asset balances and active loan balances are combined to calculate the total daily change in TVL. A running sum of these daily changes is calculated over time to establish the cumulative TVL per asset. Missing days are filled forward to ensure continuous daily data. Finally, the cumulative asset balances are multiplied by end-of-day price feeds to determine the total value locked in USD.
- **Key fields**: `delta_tvl`, `tvl`, `price_usd`, `timestamp`

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Total value locked (TVL)

Total value locked (TVL) — value deposited into the project's applications.

Flux Finance

Total value locked

Total value locked

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